Search results for ""Author Marc R. Tool""

Pricing, Valuation and Systems reintroduces American neoinstitutional economics as an alternative to the neoclassical orthodoxy. Neoinstitutionalism, Professor Tool argues, provides a pragmatic analysis that confirms that most prices and costs are set by empowered discretionary agents, not by impersonal free markets. Similarly, the institutional fabric of contemporary economic systems is shown to be defined by agents with power, not natural laws or ‘ism’ models. The author’s analysis is based upon the instrumental value theory of neoinstitutionalism rather than the utility value theory of neoclassicism. It challenges the price theory ‘heartland’ of neoclassical theory and the ‘market shock’ approach to restructuring Eastern Europe and offers neoinstitutional alternatives.

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Paul Dale Bush has been an imaginative and important contributor to the neo-institutionalist economic literature in the United States for over three decades. This is the first of two volumes presenting a tribute to this highly influential scholar.The majority of Paul Dale Bush's recent scholarly writings have addressed the clarification and refinement of the pragmatic instrumentalist model of inquiry. This book first reviews Dale Bush's main contributions to academic life and to neo-institutional scholarship. Internationally recognized contributors - Phillip Anthony O'Hara, Erkki Kilpinen, Geoffrey M. Hodgson, Kurt Dopfer, Warren J. Samuels, Edythe S. Miller, Ann L. Jennings and William Waller - then provide a penetrating analysis of the Veblen-based neo-institutionalist theoretical approach to inquiry and its reflection in social value theory.This book will be of great interest to postgraduate students and scholars in the field of institutional economics, political economy, history of economic thought, methodology and social value theory.

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Throughout his long career as a professional scholar, Paul Dale Bush has been a cogent theorist, a model practitioner and an ardent defender of academic freedom and of democratic practices. Institutionalist Theory and Applications is the second of two volumes celebrating his career and his contribution to neo-institutional economics.This volume presents contributions by a distinguished group of institutionalist scholars: Edythe S. Miller, Philip A. Klein, James A. Cypher, F. Gregory Hayden, John Groenewegen, Peter Soderbaum, Charles M.A. Clark, Catherine Kavanagh and Janice Peterson. The book explores the interdependence of theory and policy and applies institutional theory to several problem areas of governance and performance.This book will be of great interest to postgraduate students and academics in the field of institutional economics, evolutionary economics, political economy, history of economic theory, methodology, social economics, social policy and social value theory.

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This authoritative and comprehensive reference work introduces the reader to the major concepts and leading contributors in the field of institutional and evolutionary economics. The Companion's coverage includes contributions by leading international authors working in the traditions of Thorstein Veblen, Joseph Schumpeter and the new institutionalist economics. Featuring accessible, informative and provocative entries on all the significant areas, this book breaks new ground by bringing together widely dispersed but theoretically congruent ideas for the first time. Several entries assess evolutionary and institutional aspects in the work of otherwise orthodox political economists, such as Adam Smith, Alfred Marshall and Friedrich A. von Hayek. Although some attention has been given to the critique of mainstream neoclassical economics, the principal focus has been on the affirmative presentation of institutional and evolutionary economics as alternatives to both the neoclassical and Marxian schools. An important feature of the work is the inclusion of a large number of entries addressing the foundations of inquiry into political economy.As the best single reference source on institutional and evolutionary economics now available, this two volume set will be welcomed by students and teachers in economics, scholars in related social sciences and government policymakers.

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